The Small Firms Association (SFA) have highlighted the danger of any increase in the National Minimum Wage ahead of the publication of the Low Pay Commission recommendations to Government this week.
SFA members have identified wage inflation as the number one threat to their businesses over the coming year. This is despite the fact that many small businesses plan to give pay increases, where – crucially – the performance of the business allows.
Acting Director of the SFA, Linda Barry says, "There are many factors currently influencing the Irish economy that we have little or no domestic control over – exchange rates, the future trading relationship between the UK and the EU, oil prices and interest rates, to name but a few."
She added, "If the 200,000 small businesses in Ireland are to continue to create and maintain jobs and to operate in our cities, towns and villages, it is crucial that the Government is proactive on those elements within its control."